Buckeye Partners L.P. (NYSE:BPL) has been assigned an average rating of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $73.22.

BPL has been the subject of several recent analyst reports. BidaskClub raised shares of Buckeye Partners L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. SunTrust Banks, Inc. initiated coverage on shares of Buckeye Partners L.P. in a report on Monday, March 20th. They set a “hold” rating and a $72.00 price objective for the company. Stifel Nicolaus raised shares of Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Monday, May 15th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $73.00 price objective on shares of Buckeye Partners L.P. in a report on Wednesday, April 19th. Finally, Guggenheim initiated coverage on shares of Buckeye Partners L.P. in a report on Monday, April 17th. They set a “neutral” rating and a $72.00 price objective for the company.

In other Buckeye Partners L.P. news, SVP Todd J. Russo sold 3,280 shares of Buckeye Partners L.P. stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $67.00, for a total transaction of $219,760.00. Following the completion of the sale, the senior vice president now owns 14,106 shares of the company’s stock, valued at approximately $945,102. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert A. Malecky sold 6,955 shares of Buckeye Partners L.P. stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $69.00, for a total transaction of $479,895.00. Following the sale, the executive vice president now directly owns 80,559 shares of the company’s stock, valued at approximately $5,558,571. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Chickasaw Capital Management LLC raised its stake in Buckeye Partners L.P. by 15.2% in the first quarter. Chickasaw Capital Management LLC now owns 3,189,567 shares of the pipeline company’s stock worth $218,677,000 after buying an additional 420,068 shares in the last quarter. Infrastructure Capital Advisors LLC raised its stake in Buckeye Partners L.P. by 103.8% in the first quarter. Infrastructure Capital Advisors LLC now owns 472,652 shares of the pipeline company’s stock worth $32,405,000 after buying an additional 240,709 shares in the last quarter. Bank of America Corp DE raised its stake in Buckeye Partners L.P. by 6.6% in the first quarter. Bank of America Corp DE now owns 3,471,008 shares of the pipeline company’s stock worth $237,973,000 after buying an additional 213,555 shares in the last quarter. Creative Planning raised its stake in Buckeye Partners L.P. by 14.6% in the first quarter. Creative Planning now owns 1,133,117 shares of the pipeline company’s stock worth $77,687,000 after buying an additional 144,771 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in Buckeye Partners L.P. by 27.3% in the first quarter. Global X Management Co. LLC now owns 514,483 shares of the pipeline company’s stock worth $35,273,000 after buying an additional 110,236 shares in the last quarter. 70.55% of the stock is owned by hedge funds and other institutional investors.

Buckeye Partners L.P. (NYSE:BPL) traded down 0.84% during trading on Friday, hitting $63.52. The stock had a trading volume of 15,952 shares. The company has a market cap of $8.93 billion, a PE ratio of 16.31 and a beta of 1.11. Buckeye Partners L.P. has a 52 week low of $59.73 and a 52 week high of $75.10. The stock has a 50-day moving average price of $63.88 and a 200-day moving average price of $66.79.

Buckeye Partners L.P. (NYSE:BPL) last announced its quarterly earnings results on Friday, May 5th. The pipeline company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.12. The business had revenue of $969.30 million for the quarter, compared to the consensus estimate of $848.34 million. Buckeye Partners L.P. had a return on equity of 12.03% and a net margin of 15.36%. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 EPS. Equities analysts predict that Buckeye Partners L.P. will post $3.94 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/07/buckeye-partners-l-p-nysebpl-given-average-rating-of-hold-by-brokerages.html.

About Buckeye Partners L.P.

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

Analyst Recommendations for Buckeye Partners L.P. (NYSE:BPL)

Receive News & Ratings for Buckeye Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.